Stocks Modestly Higher; SunPower Heats Up

Stocks were mildly higher in choppy trading late Monday. Even blue chips turned positive, but just barely.

The Nasdaq and the S&P 500 each rose 0.1%. Meanwhile, the Dow Jones industrial average ticked up a fraction.

Volume was again tracking mixed in the stock market today. NYSE trade was running sharply higher, while Nasdaq volume was tracking lower.

SunPower (NASDAQ:SPWR) shot up 7% to its best levels in more than five years. The stock blew past a 36 buy point from a first-stage cup-with-handle base. SunPower, which makes and installs solar panels, announced a partnership with Admirals Bank to provide loans for solar energy systems.

GasLog (NYSE:GLOG) bolted 6% and cleared resistance at its 50-day line in fast trade. The stock is building the right side of a second-stage pattern. GasLog nearly doubled after breaking out from a flat base in early November.

Envision Healthcare Holdings (NYSE:EVHC) pared an early 6% gain to less than 1%. Earlier, Goldman Sachs upgraded shares to buy from neutral and gave it a 43 price target. Envision cleared a 36.90 buy point from a wide-and-loose consolidation at Monday's open.

On the downside, Level 3 Communications (NASDAQ:LVLT) slumped 5% after giving up early gains. Early Monday, the telecom services provider agreed to buy TW Telecom for $5.7 billion in an effort to better compete against AT&T (NYSE:T) and Verizon Communications (NYSE:VZ). Despite turning tail, Level 3 appears to be finding support at its 50-day line.

See Also

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